Goldman Sachs makes $20 Million investment in Indian medical device company

gmsAn Indian business publication is reporting that U.S. investment bank Goldman Sachs is making a $20 million equity investment in an Indian medical device company.

BPL Medical Technologies makes electrocardiographs, defibrillators, patient monitors, oxygenators and ultrasound scanners among other medical equipment and is part of the BPL Group, which makes consumer appliances and home entertainment products like TVs.

The article notes that Goldman Sachs has already invested more than $2 billion in Indian companies since 2006 and they include healthcare industry investments in Nova Medical Centers and Max India. Nova Medical Centers owns and operates a group of surgical and In-vitro fertility centers in the Asian nation. Max India has a healthcare subsidiary which operates hospitals throughout the country.

The report notes what Ankur Sahu, co-head of private equity in Asia making the following statement:

” This investment reflects our continued focus on the Indian healthcare sector where we will continue to fund segments that have a great need and large untapped potential Leveraging our global healthcare expertise and relationships, we are excited to partner with the BPL Group to build a high-quality medical device leader in India.”

According to other press reports, Goldman’s equity inivestment marks the second instance of a global private equity firm betting on the local Indian medical device industry. In April, TPG reportedly invested $23 million in Sutures India, which makes surgical consumables.

With foreign capital flowing to local companies, competition from local device makers is likely to heat up as U.S. device makers are also making a beeline to tap into fast-growing device market. Aside from foreign capital, device makers in places like China also benefit from government prioritizing local innovation.






Source : Indian Express | May 13, 2013


About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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